Feltl & Co. Cuts Arctic Cat to Buy (ACAT)
Arctic Cat (NASDAQ: ACAT) was downgraded by analysts at Feltl & Co. from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. They currently have a $44.00 price target on the stock, down from their previous price target of $46.00.
Arctic Cat traded down 6.21% on Tuesday, hitting $35.61. Arctic Cat has a 52-week low of $11.55 and a 52-week high of $47.46. The company has a market cap of $450.3 million and a price-to-earnings ratio of 26.64.
Arctic Cat last posted its quarterly earnings results on Tuesday, May 15th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.06. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. Analysts expect that Arctic Cat will post $1.78 EPS next quarter.
Arctic Cat Inc. (Arctic Cat) designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) under the Arctic Cat brand name, as well as related parts, garments and accessories.